If approved by the court on August 10, the settlements would resolve unsecured claims worth over $78.2 billion.
Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings,The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 billion in unsecured claims. Any responses and objections should be submitted to the court by August 3.
One of the agreements resolves claims over accusations of fraud and misrepresentation by Celsius management by increasing customers' recoveries by 5%. Account holders can still retain rights to pursue individual claims against Celsius if they opt out of the settlement. As per the court documents: "Any eligible Account Holder who does not opt out of the Settlement will receive a claim in the amount of 105% of their scheduled claim, which will supersede and extinguish any related Proofs of Claim filed by such Account Holder."
The second settlement offers a resolution for customers with funds in Celsius’ interest-bearing Earn. Under the proposed agreement, customers who borrowed crypto funds will be able to receive a portion of their funds in crypto assets, along with a compensation in shares of the new company emerging from the bankruptcy proceedings."[...
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Celsius Network Reaches Key Settlements to Resolve LitigationCelsius Network reached settlements that potentially clear a path for the crypto lender to win court approval for its plan to return assets to its customers and conclude its bankruptcy.
Les mer »
Celsius Network reaches settlements that could clear path to return customer funds: WSJThe agreements would resolve customer claims over fraud allegations by raising recoveries 5%, the WSJ said.
Les mer »
Apex Legends Neon Network Collection Event RevealedRespawnEntertainment has revealed the latest event for ApexLegends, as you can take part in the Neon Network Collection Event.
Les mer »
UK financial watchdog announces launch of permanent Digital Sandbox in AugustThe Financial Conduct Authority of the United Kingdom said its Digital Sandbox will become available on a permanent basis starting on Aug. 1.
Les mer »
BXB also joins the August comeback line up with their 1st Single Album | allkpopBXB (비엑스비; short for Boy By Brush) is a five-member boy group under Wolfburn. They debuted on January 30, 2023, with the single album 'Intro: Fl…
Les mer »
Reenactment Of Parkland School Shooting Using Live Ammunition Set For AugustThe reenactment of the 2018 mass shooting at a Florida high school will take place as part of a civil lawsuit.
Les mer »